Russia plans a late June vote on a crypto regulation bill setting exchange rules, investor limits, licensing standards, and stablecoin use.
Russia is preparing a decisive step toward regulating cryptocurrencies after years of legal uncertainty. A comprehensive crypto regulation bill is expected to come to a vote by late June. If the law is approved, it would come into effect on July 1, 2027. The proposal is to formalize the exchanges, protect the investors, and control the risks.
Russia Prepares Vote on Long-Awaited Crypto Framework
Anatoly Aksakov, who heads the State Duma’s Financial Market Committee, confirmed the timeline. According to the Parliamentary Gazette of Russia, he said legislation will consider the framework at the end of June. Therefore, the vote would be the first unified crypto law.
Currently, crypto exchanges are in a legal grey area. However, the new bill would introduce mandatory registration and licensing. People who operate without registration could be fined or jailed. These penalties would be similar to laws already in place to punish illegal banking operations.
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Meanwhile, the Central Bank submitted its regulatory concept to the government in December. In that document, digital currencies were defined as tradable assets. However, they would still be banned as domestic payment instruments. This approach reflects volatility and sanctions exposure concerns.
Retail investors would be subject to new restrictions if the bill passed. Inexperienced users were able to purchase approved cryptocurrencies. They would also have to pass qualification tests. In addition, annual purchases would be limited to 300,000 rubles, or about $4,000, per intermediary.
According to Alexandra Fedotova of White Stone law firm, eligibility rules are the center. She said the Central Bank would most likely approve between 5 and 10 major assets. These would include BTC and ETH. Popular local assets such as SOL or TON could also qualify.
Stablecoins, Mining, and Investor Protections Take Shape
Stablecoins may receive special treatment under the framework. Fedotova suggested that they could be used for foreign economic activity. Licensed Brokers would take care of such transactions. As a result, USDT could serve as a “digital dollar” for companies that do business around the world.
Qualified investors would get wider access. They still would be subject to mandatory risk testing. However, they could buy as many crypto assets as they could, except anonymous cryptos. Coins such as XMR, ZEC and DASH would be out of the question, for AML reasons.
The Central Bank stressed the high risk of crypto. It warned that there is no guarantee in assets based on any jurisdiction. In addition, volatility risks and sanctions risks are still high. Investors were advised to understand possible total loss scenarios.
Crypto transactions would be based on the current infrastructure. Licensed exchanges, brokers, and trustees could continue business operations. Separate rules would only apply to specialised crypto depositories and exchangers. Importantly, exchangers would be subject to new licenses.
Residents continued to be able to purchase crypto overseas with foreign accounts. They may also transfer assets by way of Russian intermediaries. However, such activity would have to be notified to the tax authority. Without compliance, users would be fully liable for any legal consequences.
Lawmakers also aim to legalize mining activities. Aksakov said rules for creation, mining, and circulation are being defined. Illegal operations would be subject to administrative and criminal liability. On the other hand, adjustments to investment limits are still in discussion.
Finally, recent court developments are for clearer rules. On January 20, 2026, Russia’s Constitutional Court, in most cases, protected undeclared digital assets. This ruling eliminated a big legal barrier for thousands of holders.
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